Master of Business Analytics BUS5PB
La Trobe Business School
1
BUS5PB - Principles of Business Analytics
Assignment 03: Cognition, Decision-making and Analytics
Marks: 30%
Assignment Type: Individual
Due Date: 11:59PM Sunday 4th June 2017.
The third assignment aims to develop research, analysis and communication skills by focusing on the soft
end of the analytics spectrum, human decision-making. In the attached research article, ‘Does the brain
calculate value?’, Vlaev et al (2011) present cognitive science perspectives on how the human mind
chooses between options, they posit a wide spectrum of decision-making scenarios, from ‘value-first’ to
‘comparison-only’.
The assignment comprises two dependent tasks. Firstly, read and understand the form and function of
human cognition in such decision-making scenarios. This would be largely based on Vlaev et al (2011)
research article but you should refer to other relevant/related research articles for further insights. Note
the variety of decision/choice theories associated with this phenomena presented in Table 1, Vlaev et al
(2011). Document your findings in the form of a literature review.
Second task is to apply knowledge and skills acquired in this subject, Principles of Business Analytics, to
explore the role of analytics and data-driven decisions in advancing/supporting/guiding human cognition
in decision-making. You may refer to research literature, but this task should predominantly be an original
contribution based on your understanding of the analytics discipline and current learning outcomes. For
instance, consider the role of analytics in business scenarios from topics 1-4, function of self-style analytics
solutions from initial tutorials, purpose of descriptive, inferential techniques and probability theory in
formulating decisions (topics 5-7) and also expectations of performance management from topics 8-9.
Document the outcomes of this task as a subsequent topic (or topics) in the report.
Optional - Based on your observations in the second task, make an effort to reflect on extensions to the
cognitive science take on decision-making as presented by Vlaev et al (2011) (or any other work you may
find).
Report guidelines
1. Choose a fitting sequence of sections/topics for the body of the report. Two sections for the two tasks
are essential, you may add other sections deemed relevant.
2. Page limit: 3-5 pages (not more than 5 pages).
3. Report should be written in Microsoft Word (font size 11) and submitted as a Word file.Master of Business Analytics BUS5PB
La Trobe Business School
2
Marking rubric
A grade will be awarded to each of the tasks and then an overall mark determined for the entire
assessment. The rubric below gives you an idea of what you must achieve to earn a certain ‘grade’.
As a general rule, to meet a ‘C’, you must first satisfy the requirements of a ‘D’. And for an ‘A’, you must
first satisfy the requirements of a ‘B’, which must of course first meet the requirements of a ‘C’ and so on.
The marking rubric for this assignment is given below.
Criterion D C B A
Task 01
(15 marks)
Reasonable coverage
of recent research
literature on cognition
in human decisionmaking.
Good coverage of
recent research
literature on cognition
in human decisionmaking.
Excellent coverage of
recent research
literature on cognition
in human decisionmaking.
Extensive coverage
(including a
comparative study) of
recent research
literature on cognition
in human decisionmaking.
Task 02
(15 marks)
Limited effort to
synthesise the
literature study and
explore the role of
analytics in decisionmaking.
Average effort to
synthesise the
literature study and
explore the role of
analytics in decisionmaking.
Excellent effort to
synthesise the
literature study and
explore the role of
analytics in decisionmaking.
Exceptional effort to
synthesise the
literature study and
explore the role of
analytics in decisionmaking.
Other information
• Standard plagiarism and collusion policy, and extension and special consideration policy of this
university apply to this assignment.
• A cover sheet is NOT required. By submitting your work online, the declaration on the university’s
assignment cover sheet is implied and agreed to by you.